Platinum could be the dark horse among precious metals, according to a money manager at Pacific Investment Management Co.
Nic Johnson, Pimco’s managing director and portfolio manager for commodities, says he prefers the metal over gold. Used in auto catalysts of diesel engines and jewellery, it’s the cheapest ever relative to both bullion and palladium, after tumbling 14 percent last year.
While investors have poured into gold funds, they have deserted platinum, which has fallen out of favour amid shrinking demand and excess supply. The possibility the trend reverses even slightly represents a buying opportunity, Johnson said in an interview from Newport Beach, California. With $1.72 trillion under management as of September, Pimco is one of the world’s largest bond managers.
Jubilee Metals Group plc (LON:JLP) is a diversified metals recovery company, focusing on the reprocessing of historical mine waste and surface materials. Their projects in South Africa include the Hernic Platinum Project, DCM Platinum & Chrome Project and the PlatCro Platinum Project.